Overview

• Apple reported quarterly earnings of $1.65 per share and $95 billion in revenue, driven by strong iPhone sales, but warned of a $900 million tariff impact in the June quarter.
• Amazon posted EPS of $1.59 with $155.7 billion in net sales, though AWS growth of 17% to $29.3 billion fell below expectations as analysts pressed for details on AI monetization.
• The April jobs report showed 177,000 jobs added and unemployment steady at 4.2%, though severance pay may be masking underlying softness in the labor market.
• Oil majors Chevron and Exxon reported year-over-year profit declines of 30% and 6%, respectively, as falling oil prices and tariffs weighed on results.
• China signaled willingness to engage in trade talks if the U.S. cancels unilateral tariffs, offering a potential thaw in trade tensions.